Culture
Apollo draws US$61 billion in record quarter, but less from wealth
Apollo Capital Management reported record earnings from fees in the second quarter, driven by a boost in lending activity and a bump in…
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Culture
These are the 10 top-performing ETFs on SGX; Reit ETF AUM hits new high of S$1.2 billion
Exchange-traded funds (ETFs) listed on the Singapore Exchange (SGX) have recorded net inflows of S$700 million in the first half of this…
Culture
Figma sheds US$11 billion in market value days after blockbuster IPO
FieldCEO Dylan Field owns about 54.2 million the company shares worth about US$5 billion after selling 2.35 million shares in the IPO…
Culture
Tesla approves share award worth US$29 billion to CEO Elon Musk
Tesla has granted CEO Elon Musk shares worth about US$29 billion, in a new pay deal aimed at keeping the billionaire entrepreneur at the…
Culture
The AI race has big tech spending US$344 billion this year
If there’s any lesson to take from the spending plans issued by the world’s largest technology companies over the past two weeks, it’s to…
Business
CHAN 2024: Samia Suluhu promises 1 billion to the Tanzanian national team
CHAN 2024: Samia Suluhu promises 1 billion to the Tanzanian national team On the occasion of CHAN 2024, hosted in East Africa, Tanzanian…
Culture
Buffett’s Berkshire hit with US$3.8 billion Kraft Heinz charge
WARREN Buffett’s Berkshire Hathaway took a US$3.8 billion impairment on its Kraft Heinz stake, the latest hit to a bet that’s weighed on…
Culture
Bank of England rate cuts deliver £11 billion hit to households
Exactly one year since the Bank of England (BOE) started to cut interest rates, the pressure on households from the highest borrowing…
Culture
China polysilicon firms plan 50 billion yuan fund to shut a third of industry capacity
Chinese producers of polysilicon, a building block for solar panels, are in talks to create a 50 billion yuan (S$8.9 billion) fund to…
Culture
Carvana’s 10,000% rally from low deals US$7 billion blow to shorts
Carvana’s shares notched an all-time high this week, rising more than 10,000 per cent from a low in late 2022, and delivering a blow to…
Culture
Meta to share AI infrastructure costs via US$2 billion asset sale
Meta Platforms is pressing ahead with efforts to bring in outside partners to help fund the massive infrastructure needed to power…
Business
Poland doubles down on South Korean tanks with $6.5 billion deal
WARSAW, Poland — In a bid to expand the tracked vehicle fleet of the country’s land forces, the Polish Ministry of National Defence has…
Culture
OCBC trims full-year NIM guidance; Q2 profit slips 7% to S$1.82 billion
OCBC has lowered its target net interest margin (NIM) for FY2025 to a range of 1.9 to 1.95 per cent, down five to 10 basis points (bps)…
Culture
Indofood Agri Resources’ H1 net profit up 13.4% at 337.8 billion rupiah amid higher commodity prices
Indofood Agri Resources on Friday (Aug 1) posted a 13.4 per cent rise in net profit to 337.8 billion rupiah (S$26.6 million) for its first…
Culture
OCBC Q2 profit falls 7% to S$1.82 billion; to pay S$0.41 a share in dividends
The earnings beat the S$1.79 billion consensus forecast by a Bloomberg poll of six analysts OCBC’s net profit for the second quarter…
News
A Random House in Virginia Just Won $1.26 Billion From ICE
Lawyers alleged that the department’s new rule violated Section 527 of the 2024 DHS appropriations bill, as incorporated by the fiscal…
Culture
Shein revenue neared US$10 billion in first quarter before tariffs: sources
Shein Group’s net income rose to over US$400 million and revenue was almost US$10 billion in the first quarter as consumers snapped up the…
Culture
Richest Thai sees US$10 billion hydro, LNG projects driving growth
Construction on a US$1 billion LNG import terminal project, Thailand’s third, will start later this year before commercial operations are…
Business
EU members eye €127 billion in loans for defense procurement
PARIS — European Union member states expressed interest in at least €127 billion ($146 billion) in EU-backed loans to pay for defense…
Culture
Tesla signs US$4.3 billion LGES battery deal, source says, reducing China reliance
South Korea’s LG Energy Solution (LGES) has signed a US$4.3 billion deal to supply Tesla with energy storage system batteries, said a…
Culture
Kraken seeks US$500 million funding at US$15 billion valuation, The Information reports
TOCURRENCY exchange Kraken is set to raise US$500 million in funding at a US$15 billion valuation, The Information reported on Tuesday,…
Culture
Jeff Bezos wraps up massive Amazon share sale, netting US$5.7 billion
The divestitures come as the company stock has surged 38% from its recent low in late April Jeff Bezos wrapped up a massive sale of…
Culture
VW cuts outlook after US tariffs added 1.3 billion euros in costs
Volkswagen lowered its financial outlook for the year, with the escalating cost of President Donald Trump’s tariffs weighing on earnings…
Business
Torrent Power Chases $1 Billion Thermal Jackpot from L&T
Torrent Power is reportedly in discussions to acquire Larsen & Toubro's (LTOUF) thermal power business in a potential $1 billion deal,…